October 2011 International Trade

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According to data compiled by the Netherlands Bureau for Economic Policy Analysis, world trade volume decreased by 1.0 percent in October from the previous month, following a revised decline of 1.1 percent in September. Whereas the figures for emerging economies are quite mixed, with Asia doing relatively well, advanced economies’ imports and exports declined substantially, particularly those of the Euro Area. In Japan, exports fell heavily, while imports surged. Prices fell 0.4 percent in October, but remained 25.3 percent above their February 2009 low.
 

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The U.S. goods and services deficit was $43.5 billion in October, down from $44.2 billion in September. Exports amounted to $179.2 billion and imports $222.6 billion.
 

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Paper exports increased by 9,000 tons (0.3 percent) in October, and imports shrank by 9,000 tons (2.1 percent). Exports remained 179,000 tons (5.9 percent) above year-earlier levels, but imports were 5,000 tons (1.2 percent) lower.
 

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Softwood lumber exports rose by 9 MMBF (6.8 percent) in October while imports advanced by 40 MMBF (4.9 percent). Exports were 28 MMBF (24.6 percent) higher than year-earlier levels, and imports were 90 MMBF (11.8 percent) higher.